In this technology age, it is important that you’re very careful when online. There are lots of predators waiting to take advantage of innocent, unsuspecting users online.
Don’t be a part of the statistics of those who have lost their money online to scammers and fraudsters. When sending money through a money transfer app, you need to beware of the following scams:
Social Media Impersonation Scam
You should be careful when using social media, just as much as you are when using your money transfer app. There are a lot of people pretending to be who they’re not online. And you need to steer clear of these individuals. They may come to you with investment opportunities or giveaways, claiming to represent particular giant companies.
They may even pretend to be certain high profile individuals in society, such as businessmen and industry leaders. Often, they have a fake account with just one or two wrong characters. This way, it becomes rather difficult to note the difference, unless you’re very keen.
In these types of scams, these cybercriminals will often direct you to a link where you’ll need to fill in your details. And this is where they take your credentials to start intercepting your funds through your money transfer app. So, it is important not to accept friend requests or investment opportunities from people you don’t know, or who look suspicious. It is also important to check for the blue verification badge on the profiles of the individuals to ascertain that they are genuine.
Never share your personal credentials with anyone online. Because they may even impersonate customer service representatives and ask for your credentials to help you – this is a scam. No credible money transfer app customer service will ask for your passwords and personal credentials.
These days, more and more people are shopping online as compared to brick-and-mortar stores. Normally, it is safe to shop online, especially when you’re using a credible e-commerce marketplace. But you can’t rule out the fact that they are fake e-commerce stores online out to rip off unsuspecting and vulnerable shoppers.
In most cases, if you see an offer that’s too good to be true, it normally is – avoid it. A good way to avoid shopping scams is by only shopping using credible e-commerce stores. Avoid any offers that you see online that don’t seem to be coming from a legitimate source – often they don’t.
Also, you need to check the website URL carefully to ensure that it is indeed the right one representing that e-commerce site. Also, when making payments for e-commerce goods, use a safe and secure money transfer app. It should be able to use traceable systems that can identify scamming and phishing websites.
In addition, you need to strive to avoid free trial offers. Before you agree to such, if you must, then check their cancellation policy. Also, review your statements monthly, to ensure that you have not paid for what you haven’t used.
Online Dating Scams
Such scams take place mostly through online dating apps and websites. Like quite recently, there was a documentary titled “The Tinder Swindler” that showcased the plight of several ladies scammed by a guy on the Tinder dating platform.
But scammers don’t limit themselves to these dating sites only. In fact, there’s been a trend of email dating scams that have swindled several people of their hard-earned money. There have also been several reports of the same taking place on social media.
In these types of scams, the cybercriminals express their undying love and care for you within a short period of time. Then, they will slowly request that you move the relationship off the dating site and to a more private channel, such as through phone or an instant messaging platform.
The scammers act by developing trust, and then finally asking for your personal credentials or even directly asking for money and gifts. Like in the documentary above, they may even fake an emergency and request that you send them money so that they can help themselves out of it.
To keep yourself safe, avoid sending money to people you don’t know well or haven’t met severally. It is most likely a scam when you meet an individual and only shortly after, they start confessing their deep love for you. Also, a red flag is when they start asking for favors too early.
These are some of the most common scams ever. They are what got the famous “Hushpuppy” in trouble. The most common one is that you should help someone move their funds from one point to the other, then you will receive a cut. Also, you can receive phishing emails that are meant to lure you into submitting your personal credentials. Avoid these emails like plaque.
You need to have your ears on the ground and your eyes on the price when transacting online. Also, choose a money transfer app that can keep you safe from scams and cybercrime.